Example 1. You spend $200 for a business-related meal. If $110 of that amount is not allowable because it is lavish and extravagant, the remaining $90 is subject to the 50% limit. Your deduction cannot be more than $45 (50% Ã $90).
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Walter Mitty, the main character in The Secret Life of Walter Mitty, is a daydreamer. He spends a good deal of his time imagining that he is someone else. His daydreams all have him as a successful, courageous, heroic individual, who is called in to save the day.. The pilot of a US Navy hydroplane â Commander Mitty: Walter Mitty is driving too fast so he thinks he is a Naval Commander. Mrs. Mitty brings him back to reality. The noise (pocketa- - -) is repeated in most of his day dreams.